PROBLEM 12-14B (PART B)

Problem 12-14B The direct versus the indirect method of determining cash flows from operating activities The following accounts and corresponding balances were drawn from Crimson Sports, Inc.'s Year 2 and Year 1 year-end balance sheets: Problem 12-14B The direct versus the indirect method of determining cash flows from operating activities The following accounts and corresponding balances were drawn from Crimson Sports, Inc.'s Year 2 and Year 1 yearend balance sheets: The Year 2 income statement is shown next: Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect method. The Year 2 income statement is shown next: Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect method. Problem 12-14B The direct versus the indirect method of determining cash flows from operating activities The following accounts and corresponding balances were drawn from Crimson Sports, Inc.'s Year 2 and Year 1 year-end balance sheets: The Year 2 income statement is shown next: Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect method. Rroblem 14B (Part B Only): B. Indirect Method: (add more lines as you need them) Rroblem 14B (Part B Only): B. Indirect Method: (add more lines as you need them) Problem 14B (Part B Only): B. Indirect Method: (add more lines as you need them)